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10 Tips to Get the Most from Business Networking

15Jun2015

10 Tips to Get the Most from Business Networking

We all know that networking requires a significant amount of time, effort, and commitment. Because of that, we all want to make sure that we’re getting the highest return on investment from our networking efforts. Below, I have outlined 10 tips that will help you get the absolute most from the time you spend networking for your business.

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When asking for a referral from an associate or client, use the phrase, “Who do you know who . . .?” This is an open-ended question that works well. Do not alter the phrase. Ohter phrases have been tried, but none have produced the desired results.

Have someone else tell a group of people how good your product or service is. This beats anything you can say about yourself. Ask people who have used your products or services to talk about their experience at the next meeting.

Top business executives insulate themselves from those who may try to sell them products or services. Through word of mouth you can still increase your volume of business, because you know a hundred people, who know a hundred people, who in turn know a hundred people, and so on. The great referrals are probably not going to come from a CEO, but from someone who knows a CEO.

If you have an opportunity to distribute your materials, do it. Bring products, samples, brochures, or a presentation book to the business meetings you attend. If people can see, feel, touch, hear, or smell samples of the product or service you provide, they are more likely to use you.

Offer a special price or service to the members of your networks. If you can get the members to use you, they are much more likely to refer you.

Anyone active in networking groups can benefit by developing a presentation book, taking it to meetiings, and making sure it gets circulated.

If your product or service is conducive to this approach, tell the members of your network that you accept speaking engagements as bona fide referrals. Ask them to pitch you to the program chair of other organizations they belong to.

Meet people outside the meeting context whenever you can. Write cards or letters, send articles that might be of interest, call to check in, and let them know about local business mixers.

To get good referrals, tell people when they’ve given you a bad referral. If you don’t, you’ll keep getting bad referrals. Teach people what you consider to be a good referral.

Monitor the referrals you get. This tells you how often you get referrals, their source, quality, status, and dollar payoff. Having this information helps you focus on individuals and groups who are giving you the best referrals. This allows you to reciprocate with people who are giving you the most referrals.

Do you have additional tips for networkers to get the most from business networking? I’d love to hear your ideas–please leave your thoughts in the comment forum below. Thanks!